Pinebridge Investments L.P. Reduces Stake in Toronto-Dominion Bank

Pinebridge Investments L.P. decreased its ownership of The Toronto-Dominion Bank (NYSE:TD) by 18.7% in the fourth quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 3,629 shares of the bank’s stock, down from 4,466 shares previously.

Other major investors have also adjusted their positions in Toronto-Dominion Bank. Dimensional Fund Advisors LP increased its holdings by 6.8% in the fourth quarter, while Cooper Financial Group, Cape Cod Five Cents Savings Bank, CWM LLC, and Schechter Investment Advisors LLC also made changes to their stakes.

The stock of Toronto-Dominion Bank is currently trading down by 0.8%, with shares opening at $55.59 on Monday.

In its most recent earnings report released on May 23rd, Toronto-Dominion Bank reported earnings per share of $1.50 for the quarter, surpassing the consensus estimate by $0.15. Analysts predict the bank will post 5.86 earnings per share for the current year.

Additionally, Toronto-Dominion Bank recently announced a quarterly dividend of $0.74 per share, with a dividend payout ratio of 68.64%.

Wall Street analysts have provided mixed ratings for TD shares, with one sell rating, six hold ratings, three buy ratings, and one strong buy rating. The average target price for the stock is $88.00.

Toronto-Dominion Bank operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

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